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Has the ‘gun bubble’ popped?

Has the ‘gun bubble’ popped? David M. Levitt at Bloomberg thinks so, and I think with good reason (see chart below).

Peak Gun – Bloomberg

Sturm Ruger and Smith & Wesson are the only two publicly traded U.S. gunmakers. Their sales have plummeted (down 13.4 percent and 23 percent, respectively) and stock values each cut by more than one-third.

Levitt relates the spike in gun sales to to Obama–namely, fears on the part of gun owners that Obama’s anti-gun agenda would gain ground. The failure of his agenda to get off the ground, then, explains the sudden drop.

I think he’s right, not in the least because I know people who bought guns for that very reason.